Credit Repair - What is the best way to repair my credit? My score is below 500.?

What is the best way to repair my credit? My score is below 500.?

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Well to start you have to get your credit reports then see whats on your report that will determine your next move.
You should check out www.thecreditboosters.com - they're pretty good. They got my friend about 80 points in about 20 days.
Starting with cutting up all of your credit cards. Use only one and make payment on time. It will take couple years to rebuild your credit history but eventually you will get out of it. If you are paying higher interest, find a credit card with lower rate and transfer once. Don't do it too often. Most people have a perception that if they move their balances from one company to another, they don't have to pay finance charges. In reality, credit card companies know that and they have a name for people who move the balances around as "rate surfers". Those people do not have good rates either. Don't be fool when they send you a promo rate in the mail, that doesn't mean you will get the rate that they offer. It all bases on your credit behavior not just credit score. If they found you not profitable, you do not get a lower interest rate either.
No more credit cards! Make sure that you pay the ones you do have every month ON TIME, even if it's just the minimum amount due. However, it would be better for you to try and pay even a little bit more than the minimum. Also, pay all of your utilities on time. Do NOT get involved with any of those companies that promise to fix your credit. They are a scam and you'll end up in a deeper hole than before. For more tips check out this website: www.ihatedebt.com. It'll really help!
There are a lot of things you can do to repair your credit. First you need to order a copy of your credit report. Go to www.annualcreditreport.com to obtain a free copy of your credit report from all 3 of the credti bureaus. You do not need to purchase any of the add-ons they will try to hit you with. Simply order the free reports. They are pretty in depth and will provide you with a lot of information, except they will not provide scores (which you don't need at this time). After reviewing your credit for errors and inaccuracies you will need to decide the best method for attacking your credit. You could pay top $$$$ to have a credit repair company come in and repair your credit. You can save yourself all of that money and do some self credit repair (which I will provide a link to a webpage with help doing that). You can try using a method known as "piggybacking" credit from a friend or family member (or again you can pay a company top $$$ for this service). You can try one of the above methods, all of them or a combination of some of them. Here are some quick tips on improving and rebuilding your credit: * Know and understand your credit and how credit scoring works * Review your credit report 1-2 times per year * Request limit increases to provide better balance to limit ratios (do not use extra limits) * Pay all accounts on time and make sure you do not go past 30 days late *Avoid allowing any accounts to go into a collection status *Avoid bankruptcy *Never max. out your credit cards * Ask questions if you don't understand something on your credit report * Dispute inaccuracies and errors as soon as they are discovered *Keep you balances 40% or lower from your credit limit on revolving credit *When shopping for a mortgage or auto loan try to do it within 14 days so that it only counts as 1 inquiry * Do not close revolving accounts after you pay them off * Don't be afraid to ask friends and family for help or advice if you get into a jam * Don’t go crazy applying for a lot of new credit * Use some common sense * Look into some of the alternative rebuilding credit methods mentioned above * Establish a long history of credit * Don’t think that if you pay for everything in cash and don’t have any credit that this is good for you. * It may help your debt to income ratios, but it will not necessarily help with financing for a mortgage or with having a good credit score. * Do not live on credit cards and manage your credit wisely * Be responsible when utilizing credit and don’t over extend yourself * If you get into credit trouble search for a solution early on, communicate with your creditors to find a solution before your credit is destroyed. Most lenders are willing to work with you as long as you communicate with them. Good luck and check out the link below for more information
To Repair credit score Your credit score is based mostly on: 1. Length of credit history 2. Payment history. 3. Ratio of credit used to available credit. 4. Number of credit inquiries you authorized. If you cancel your card, you'll be hurting your credit ratio. (#3). You want to deliberately keep your oldest credit card open, even if you never use it. You want to always pay the minimums of each loan on time every month. You want to keep your available credit high, but actually only have balances equalinig 25% or less. You want to keep your credit inquiries to a minimum. Try for no more than 3 or 4 per year for any type of loans. You do these things and your credit score will quickly soar into the 700s. ------------------------------------------------- http://www.bestcreditrates.net
. Usually companies charge hundreds of dollars to simply pull your credit and send correctly worded dispute letters—this is the key…..people will tell you that you can do this yourself for free but the truth of the matter is that the credit bureaus will throw your letters away or simply reject them. There is an easy to use online kit that will deliver the results you want available for just $19.95 at the source website. A similar kit is being sold via infomercials and radio talk shows for seventy dollars more but they try to solicit you repeatedly for other services after the fact.